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Monthly Archives

April 2014

IPOD AND IPAD CONSTRUCTION APPS: DATA AT YOUR FINGERTIPS

By Construction Insurance Bulletin

The explosive growth of applications for iPhones and iPads includes a variety of tools that construction professionals can use for instant access to a wealth of information.  Here are eight apps that can help save you time and money on the job:

1.      SmartBidNet. Use this iPhone bid management app for rapid and secure access to the information needed to track the bid process with subcontractors and companies.

2.       GoBIM. This app provides access for navigating 3D building information management (BIM) models and their associated data. The size of the model the app can handle depends on the number of triangles, parameters, and materials.

3.      FingerCAD allows users to use their fingers for computer-assisted technical drawings, save the final design, and print or e-mail it.

4.      Architect’s Formulator provides more than 200 formulas for electrical, carpentry, excavation and plumbing calculations. It can also be used to design everything from steel buildings to parking areas – and even swimming pools.

5.      Carpenter’s Helper helps measure such construction elements as roof pitch, rafter lengths, and stair lengths.  It includes a graphical interface that will calculate stair, roof, and floor projects.

6.      Builders Helper. This iPhone app deals with a number of elements in constructions projects: rafters, columns, concrete, stairs, drywall, painting, decking, roof, flooring, and more.

 

7.      Fast Concrete Pad Calculator provides a helpful tool for determining the quantities and costs of concrete, rebar, and waste materials on a project.

 

8.      Drywall Calculators, Use this app to estimate the number of drywall sheets needed to finish the input area.

 

To learn more about these high-tech tools, just give us a call at any time.

DO ADDITIONAL INSUREDS BELONG ON YOUR UMBRELLA?

By Construction Insurance Bulletin

It’s a regular occurrence for contractors.  Another party (an owner, general contractor, lien holder, other contractor, or government entity) asks you to add them as an additional insured on your insurance policies. This party often makes it clear that if you want to do business with them, not adding them is not an option.

However, this isn’t necessarily a good idea. For example, you probably bought your excess liability coverages – such as those under an umbrella policy –to protect you from catastrophic financial loss. If an additional insured, who might be well within their rights, is added to your basic coverages and protected up to your basic coverage amounts, will they also be allowed to “piggyback” up to your highest limits of protection?

We’d advise you not to set up any procedure that automatically makes all of your coverage limits available to any additional insured. Add them to the specific coverages and the specific limits they request, but go no further. If in doubt, consult with your attorney about contractual requirements and possible gaps between what the entity is requesting and what your coverage will actually provide.

Once you’re certain what you’re being asked to do, and have decided to meet this request, there’s one more action to take before adding the additional party to your coverages. Contact us to determine if your current policy already meets the needed conditions, or what modifications (if any) might be required to do so. Remember – we want to help you meet your needs, but our focus is always on protecting you, even if this means against unreasonable demands from other entities. We’re here to help.

Obamacare and HSAs

By Life and Health

A Health Savings Account (HSA) functions as a tax-advantaged account that can be used to cover medical expenses, specifically for taxpayers enrolled in high-deductible health plans. These differ from the more common or traditional Flexible Spending Account (FSA) in several ways, including the ability to roll funds over from one year to the next if a balance remains in the account at the end of the year. Some details of these accounts have changed due to the recent passage of the Affordable Care Act.

Early Withdrawal Penalty

The Patient Protection and Affordable Care Act, also known as Obamacare, stipulates that all withdrawals from an HSA must be used for qualified medical expenses. If someone withdraws money from the account for purchases or services that do not qualify or that are undocumented, a 20 percent penalty will be assessed. This requirement ensures that tax-advantaged funds are spent within the terms outlined for these account types. The penalty is waived for those over age 65 and who have become disabled. Prior to Obamacare, HSA penalties were only 10 percent.

Over-the-Counter Medications

Prior to the changes brought about by Obamacare, it was possible to use HSA funds to purchase over-the-counter (OTC) medications, including pain relievers, cold and allergy medicines and the like. Now, however, these items can only be purchased using an HSA if the account-holder has a prescription for them. Weight loss products and supplements, however, have never been covered by HSA or FSA policies. This change is a further effort to prevent account fraud, which has often been widespread.

Consumers should know that HSA funds can still be used for many other types of medical expenses, including those associated with insurance co-payments; dental, vision, and chiropractic expenses; the purchase of medical equipment, including wheelchairs, eyeglasses, contact lenses and diabetic meters and supplies; and medical-related transportation costs.

The areas discussed above represent the major changes to HSAs under Obamacare. Keep in mind, however, that other more minor adjustments have also been made, so pay close attention to the details of your specific HSA.

The Basics of Medicare vs. Medicaid

By Life and Health

The world of health insurance seems to get more confusing every day. Medicare and Medicaid are health care programs that have been run by the federal and state governments for many years, but many people are still unclear about the differences between the two. Put as simply as possible, the major differences lie in how a beneficiary qualifies for the program and which government entity runs the program.

Medicare Basics

Medicare is an insurance program that is designed to provide health care benefits for individuals who are 65 or older or who have met qualifications for disability coverage. The program is funded via trust funds that are supplied through Medicare taxes. There are no financial or asset requirements for beneficiaries to qualify for Medicare. As long as the individual has worked and paid Medicare taxes or is married to someone who has, they are eligible for premium free Medicare Part A coverage. However, certain co-insurances and deductibles do apply to the beneficiaries.

Medicaid Basics

The Medicare program is based on need, which means income and asset levels are considered when determining if an individual is eligible for it. Medicaid is funded through federal, state and local tax monies. While Medicaid is monitored by the federal government, each state is responsible for running the program within its borders. For that reason, guidelines regarding eligibility and benefits vary widely from state to state. Generally, the Medicaid program is designed to meet the health care needs of qualified individuals, such as children, pregnant women, the disabled and the elderly. However, the Affordable Care Act has also opened up Medicaid eligibility to adults under 65 in some states if they meet certain income requirements.

If you believe you might be eligible for one or both of these programs, contact us today to discuss your situation and all options to which you and your family have access.

The Pros and Cons of Dental Insurance

By Life and Health

Fewer and fewer private companies are providing dental insurance for their employees, while Medicare does not provide it at all. You may well be wondering if you should purchase dental insurance yourself; these pros and cons can help you make the right choice.

What Is Dental Insurance?

Dental insurance, simply put, helps cover some of the costs associated with dental care. It can be purchased as a group policy through your employer or privately as an individual policy.

Although each policy has its own benefits levels and coverage limits, most policies cover 100 percent of the costs associated with diagnostic and preventive care. Many policies cover about 80 percent of periodontal cleanings, while root canals, fillings and oral surgery are usually covered at 50 percent. In addition, most policies have a yearly maximum on the total benefits they will cover; for most, this cap falls at about $1,500. Of course, the specific coverage levels will vary from one policy to another. Higher caps and benefit levels may be available from some companies if you pay a higher monthly premium

Pros

If you or someone in your family expects to need extensive dental work, dental insurance could help you save money. It can help you pay for expensive procedures like crowns, fillings, root canals and sometimes orthodontics.

Cons

Dental insurance can be costly to purchase. In light of the deductibles and co-payments for which you will be responsible before coverage begins, as well as the yearly cap on benefits, you might decide that the cost for the insurance is not worth its benefits.

So, should you purchase dental insurance or not? If you have ongoing dental issues, or expect to have extensive dental work in the near future, it may be worthwhile to buy dental insurance. However, if you do not anticipate having expensive dental work in the next year, it may be smarter for you to deposit the money that you would spend on dental insurance premiums into a flexible spending account or personal savings account.

What You Should Know About Mediclaim Insurance

By Life and Health

A mediclaim insurance policy is a financial agreement wherein the insurer agrees to cover an amount of money that is spent by the insured person for his or her health during hospitalization. Who is covered under this type of policy? Anyone from age 5 to 75 can have a mediclaim policy set up in his or her own name. Children three months up to five years old can also get coverage under a mediclaim policy with a guardian. In most cases, private and public limited companies have these medical policies available for employees in their group. These groups usually consist of at least 50 people.

There are several benefits of setting up a mediclaim insurance policy.

* A mediclaim policy offers reimbursement of hospitalization expenses including the doctor visit, surgery, anesthesia and medical tests.

* A mediclaim policy can be considered an exemption under the Income Tax Act.

* With a single mediclaim policy, you can get a 10 percent discount off of the full premium if the policy is for your entire family.

There are two ways to have your bills paid. First, they can be claimed by a cashless facility wherein your bill is paid to the hospital directly, or you can pay the bill yourself while at the hospital and submit the expense for reimbursement to the insurance company. A mediclaim policy can be a lifesaver for some people because it keeps them from suffering a huge financial loss in case of hospitalization for an accident, sickness or disease. Therefore, the cost of mediclaim is significantly higher than that for other insurance policies and rises in proportion with the rising costs of the treatment received in hospitals.

Costs associated with chemotherapy, dialysis and radiotherapy can also be covered by a mediclaim policy. If a person is taken to a nursing home or hospital and discharged the very same day, the treatment is covered under the hospitalization benefit scheme. This type of policy is available for both long and short-term coverage and is similar to other traditional mediclaim insurance policies. It covers medicines, doctor’s fees, blood work, nursing expenses, surgical appliances and much more.

Remember that it is always important to determine exactly what is covered by a particular mediclaim policy before you take it out. Certain preexisting conditions may not be covered, depending on your specific situation.

Lower Your ATV Insurance Premium With Seven Tips

By Personal Perspective

Riding ATVs with your buddies or family combines the thrill of the great outdoors with the power of a four wheeling machine. Insurance protects your investment if it’s damaged or stolen, and some riding clubs require insurance before they’ll allow you to join. Lower your ATV insurance premiums with seven tips.

1. Buy a utility model. Sporty models or ATVS with bells and whistles look and ride nice, but they may cost more to insure. Utility models are often economical to insure. Likewise, keep in mind that the ATV’s mileage, condition and age also affect your premium.

2. Take a safety course. Most ATV dealers offer safety courses that include a book test and riding instruction. Your insurance company may reward you and anyone who shares your machine for knowing how to navigate your ATV safely in all terrains.

3. Maintain a clean driving record. Your insurance premium stays low when you operate the ATV safely and only on grounds where you have permission to ride legally.

4. Store your ATV safely. Locking your toy in the garage and installing an anti-theft device on it can reduce your insurance costs.

5. Compare policies. Different insurance companies offer different deductibles, coverage options and rates, so take your time and comparison shop.

6. Use one company for all your insurance needs. Most companies give you a discount when you combine, home, auto and ATV insurance.

7. File claims only when you have to. You pay for insurance so that you can file a claim if you have to, but don’t file for every little damage or your premium will rise.

If you love riding your ATV, make sure it’s properly insured. Then, use these seven tips to obtain a lower premium. Call us today for additional information on how we can help you find the affordable ATV insurance coverage you need.

Four Holistic Ways to Stop Smoking

By Personal Perspective

When you smoke, your risk of developing lung, throat and mouth cancers as well as heart disease, stroke and diabetes increases. You also may experience shortness of breath and increased life insurance premiums. Up to 480,000 people die each year from the effects of smoking, but you can quit. Try four holistic methods as you seek to improve your health today.

1. Exercise

Sweat out the buildup of nicotine in your body, relieve depression and reduce boredom when you use exercise to stop smoking. Whether you run, swim, walk or try a different sport, the physical activity increases your odds of quitting.

2. Limes

In addition to flavoring entrees and beverages, limes boost your immunity and decrease your body’s acidity. Use them to quit smoking when you cut the quarters of a lime into quarters. Chew on one small piece, skin and all, whenever you feel a cigarette craving.

3. Self-Massage

Professional massages relax your body and your mind, which helps you handle nicotine cravings. However, you don’t have time for a full-body massage every time you want to smoke. Instead, learn self-massage techniques that are easy to perform multiple times a day.

*Use your right thumb and slight pressure to draw a circle in the palm of your left hand. Switch hands frequently.
* Massage each finger gently from bottom to top.
*Rub your ear lobes in circular motions.

4. Meditate

Reduce tension, stress and anxiety caused by nicotine withdrawal when you meditate. Start by lying down on your back and breathing deeply from your abdomen. Envision yourself cigarette-free and healthy as you exhale and inhale. Spend 15 minutes meditating, and your entire body will be calm and relaxed.

Smoking increases your risk of developing a number of deadly illnesses and diseases. It also affects your ability to afford beneficial life insurance coverage that gives your family peace of mind and financial security. Use four holistic methods to quit smoking today, and commit to healthy living.

Five Safe Driving Tips for New Teen Drivers

By Personal Perspective

According to the Centers for Disease Control and Prevention, more teens dies from motor vehicle crashes than from any other cause. Protect your teens with five safe driving tips.

1. Turn off the Phone

Talking or texting on a cellphone, even one that’s hands-free, produces the same results as driving while drunk. Plus, many states have laws against drivers talking on cellphones. To be safe, teens should turn off their phones and stay focused on the road when they get behind the wheel.

2. Follow the Speed Limit

Speed contributes to up to 40 percent of fatal teen accidents. Instead of driving fast to keep up with traffic or to show off, teen drivers stay safe when they follow the speed limit. This tip applies especially when teens drive on unfamiliar roads, in the midst of heavy traffic or during inclement weather, but it’s also important every day.

3. Reduce Distractions

Loud music, cold sodas and engaging conversation have their place at a party but not in the car. Teen drivers must focus on the task at hand and reduce distractions that may prevent them from seeing obstacles, obeying posted signs or maintaining control of the vehicle.

4. Practice Defensive Driving

Defensive driving allows teens to maintain safe following distances, obey signs and plan an escape route. Most drivers develop this mindset over time, but smart teens practice these skills from the time they first earn their driving license.

5. Drive a Safe Car

Employing safe driving techniques is an important factor when keeping teen drivers safe on the road, but the vehicle can play a role too. Vehicles with anti-lock brakes, air bags, backup assist and electronic stability control can protect teens.

Keeping teen drivers safe is possible with these five tips. Likewise, be sure to purchase adequate auto insurance on each vehicle. Call your agent today to update your policies and for additional safe teen driving tips.
Sources: Five Safe Driving Tips for New Teen Drivers

Do Dogs Effectively Protect Your Home From Burglars?

By Personal Perspective

According to the FBI, an average of 2.1 million burglaries occur each year. Your current renters or homeowners insurance will replace stolen items, but consider implementing several strategies that prevent burglars from targeting your home in the first place. In addition to security systems, deadbolts and motion detection lights, consider whether or not a dog can successfully deter burglars from targeting and entering your home.

The Advantages and Disadvantages of Large Breeds

Big dogs, including German Shepherds, Dobermans, Rottweilers and Mastiffs, look intimidating to burglars. Their bite can be pretty ferocious too. However, some big dog breeds aren’t known for their bark. If a burglar is casually casing a neighborhood, he or she may leave your house alone because a big dog lives there.

The Advantages and Disadvantages of Small Breeds

Small dogs like Terriers, Schnauzers and Beagles don’t look intimidating. They can be noisy, though, and their yapping can be invaluable for your protection. Burglars look for easy targets, and they’ll walk away from your house if your dog starts barking and alerts you or the neighbors to their presence.

Are Dogs Always Foolproof Burglar Deterrents?

Both large and small dogs can deter burglars, but keep a few facts in mind before you buy or adopt a canine protector.

1. Remember that all dogs don’t follow breed stereotypes. Some Dobermans are docile with strangers, and your Terrier might not bark.

2. Burglars who want in your home will find a way whether you have a dog or not. They can simply poison the dog or distract it with food.

3. Your lease or homeowners association agreement may prevent you from owing a dog or a certain breed of dog. Check it carefully.

Overall, dogs can deter burglars. You should use additional security options as well, though. Contact us for information about renters and homeowners insurance and to receive advice that keeps your home, family and belongings safe from burglars.